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Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
 Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.has announced that it has, through its wholly-owned subsidiary, PT Bestindo Energy, (“Bestindo”) entered into three separate Memorandums of Understanding ("MOU’s") which give Bestindo the exclusive right, for a period of thirty days, to purchase the shares of three separate private Indonesian companies which hold various coal rights related to four separate coal projects, according to news that posted in its web site.
Each of the coal projects is 100% owned by the respective private company and all of the projects are located in the Regency of Kutai, East Kalimantan. Each of the MOU’s provide for the subsequent execution of a Conditional Share Purchase Agreement (“CSPA”), which provides for staged payments of the purchase price over a period of four months in respect of one MOU and over a period of 24 months for the other two MOU’s.
Arni Bersaudara Coal Project
Pt Arni Bersaudara (“Arni”) is the holder of two contiguous IUP Exploration permits covering 3,039 and 2,874 hectares in the District of Muara Kaman. The IUP’s are approximately 40km north of the Mahakam River The Arni MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Arni for payments totaling $2,414,181 CAD. Terms of the payment include $84,215 CAD upon signing, $308,790 CAD within 6 months of signing the CSPA and the balance of $2,021,176 CAD after all the essential permits to bring the project into production are in place, or a maximum of 24 months from initial CSPA signing.
The target calorific value of coal is in this concession is around GCV 6,300 – 7,000 and 5,600 – 6,000 respectively.
Apriadi Bersaudara Coal Projects
Pt Apriadi Bersaudara (“Apriadi”) is holder of a KP PU (Mining Authorization for General Survey) covering an area of 930 hectares, which is currently being converted to IUP Exploration in the District of Samboja (AP1) and a SKIP (Exploration Permit Application) covering an area of 3,086 hectares in the District of Muara Kaman (AP2). The AP1 project is 10km from the coast and close to an independent haul road and port loading facilities which are under construction. The AP2 project is approximately 45km north of the Mahakam River and in close proximity to the Arni Bersaudara projects. The Apriadi MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Apriadi for payments totalling $2,077,318 CAD. Terms of the payment include $56,143 CAD upon signing of the CSPA , $112,287 CAD upon receiving IUP exploration permits for both projects, $224,575 CAD within 12 months of CSPA and the balance of $1,684,313 CAD due on the 24 month anniversary of the CSPA signing.
The target calorific value of coal ranging from 5000 GAD to 7000.
Putri Etam Coal Project
CV Putri Etam (“Putri”) is a private Indonesian company which is in the process of applying for an IUP Exploration and has successfully secured a Local Announcement letter from authorities. The application covers 100 hectares and is located in the Muara Badak district. The Putri MOU provides that, if Challenger elects to enter into a CSPA, it can acquire 100% of Putri for payments totaling $84,215 CAD. Terms of the payment include $28,071 CAD upon signing and $56,144 CAD upon completion of the deed of shares transfer.
An additional agreement also provides that a royalty of US$4.50 be paid to the former Putri shareholders for every ton of coal produced and sold.
The target calorific value of coal in this concession is ranging from 5,600 – 7,000.
The press report says, a program of due diligence on all of the projects is to commence as soon as possible to verify the data provided and to confirm Challenger’s exploration target parameters.
Challenger’s execution of the CSPA’s to acquire these projects will depend upon the results of the initial due diligence program in respect of each. A more detailed technical description of the properties will be made available if and when a CSPA is signed.
“The signing of these latest MOU’s, reflects the culmination of many months of excellent work by our acquisition team”, stated Ranjeet Sundher, President of Challenger, as quoted in press release.
“We are very pleased with the execution to date of our plan to assemble and advance a strong portfolio of coal exploration and development projects in East Kalimantan. Our team remains focused on the exploration of our current projects and the acquisition of new projects.”
Visit Challender Deep website for more details.
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Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- The University of Queensland
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- PTC India Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
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